Central Bank of the Russian Federation

February 7, 2020

The Central Bank of Russia’s one-week repo rate was reduced further today. The cut was 25 basis points to 6.0%, matching similar moves in December, September, July, and June. Last October, such was cut by 50 basis points. A released statement flags the possibility of more easing ahead insofar as inflation has dropped more sharply than officials were expecting. The Russian ruble was depressed initially by today’s announced rate cut.

Copyright 2020, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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